Payoneer (NASDAQ: PAYO), the commerce technology business enabling the largest payments and growth for the new global economy, has partnered with HBL, Pakistan’s largest commercial bank.
The ceremony marked the beginning of the two companies’ official alliance, which promises to make international business payments easier for Pakistani businesses and individuals. As businesses and consumers increasingly interact across borders, a demand has arisen for enterprises to efficiently distribute cash to their worldwide clients while also providing a client experience that fits the needs of international businesses and consumers. This is where HBL and Payoneer come in to help their clients with real-time international payment transactions.
Faisal N. Lalani, Head International Banking at HBL, was in attendance, as was Abrar Ahmed Mir, Chief Innovation and Financial Inclusion Officer at HBL, as well as other top officials from both organisations.
“It is projected that Pakistan’s IT exports will reach the $3.5 billion mark by the end of this year, and this is just the beginning,” said Mohsin Muzaffer, Payoneer’s Country Manager. Despite its potential, obtaining international business payments in Pakistan is difficult due to poor exchange rates and outdated services. We hope that as a result of this agreement, businesses and individuals will be able to receive their business payments via Payoneer into their HBL account in seconds. Payoneer and HBL are here to help you, whether you’re a traditional exporter, an Amazon seller, or a firm or individual exporting IT services.”
“HBL prides itself on empowering the Pakistani Client by providing choices, therefore speeding the pace at which our economy digitalizes,” said Faisal N. Lalani, Head International Banking – HBL. Our partnership with Payoneer will make it easier for Pakistanis to receive foreign payments, allowing for more goods and services to be exported and bringing in much-needed foreign cash through the banking system. We believe that, in keeping with our senior leadership’s vision, this alliance would be a watershed moment in the digitalization of Pakistan’s economy, unlocking prospects for both small enterprises and services exporters.”
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HBL Information
In 1947, HBL was the first Pakistani commercial bank to open its doors. With 1650+ branches, 2100+ ATMs, 66,000+ Konnect by HBL agents (branchless banking platform), and 55,000+ QR sites serving over 27 million clients worldwide, HBL has retained its position as Pakistan’s largest private sector bank. It is currently the world’s largest domestic bank, with operations in all major trade zones. For its client-centric financial services innovation, the Bank is acknowledged as the country’s premier financial institution.
